Snowflake (NYSE:SNOW) Price Target Raised to $188.00

Snowflake (NYSE:SNOW) had its price objective upped by Monness Crespi & Hardt from $140.00 to $188.00 in a research report sent to investors on Thursday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

SNOW has been the subject of a number of other reports. DA Davidson restated a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. Loop Capital reduced their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, TD Cowen lowered their price target on Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Stock Down 2.3 %

Shares of Snowflake stock opened at $167.44 on Thursday. The firm has a market cap of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The business has a 50-day moving average price of $120.06 and a 200 day moving average price of $128.00.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 22.01% and a negative net margin of 33.02%. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the previous year, the business earned ($0.52) earnings per share. The business’s revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts expect that Snowflake will post -2.41 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $715,051.89. Following the completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at $23,877,196.65. This trade represents a 2.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock worth $7,061,544 in the last three months. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. LRI Investments LLC raised its position in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Groupama Asset Managment purchased a new stake in shares of Snowflake during the third quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in Snowflake in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter valued at $30,000. Finally, Fortitude Family Office LLC purchased a new stake in Snowflake during the 3rd quarter worth about $34,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.